When house-hunting, you may encounter the term “as is” in the listing information. While technically, most homes are marketed in “as is” condition, it is not necessarily an indication for alarm. But you will want to look for red flags. The seller is likely putting you on notice that no repairs will be made. Your purchase should always be subject to any inspections you procure, which will be a protective contingency in your offer.
Most sellers will back away from their “as is” stance and do some negotiating on reasonable repair requests so they won’t lose their buyers. If a seller sticks to his guns and refuses to remedy repair requests or offer any credit in lieu of repairs, you have a right to cancel the sale without penalty.
Even if an “as is” property appears in good condition, we would not recommend that you waive your right for inspections just to be able to consummate a deal because there can be an unknown that becomes your liability once you have possession.
Having an educated real estate agent on your side throughout the process is a must to make sure all sides of any situation can be seen. Together, you’ll work to make a favorable offer.
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Before you begin your hunt for a new home, even if it’s online, we suggest that you do some important information gathering ahead of time so that the fruits of your labor will be more immediate and more satisfying.
The place that you will call “home” will be the result of understanding what your needs are now and into the future.
Condo or loft living may be your chosen lifestyle if you don’t want to deal with much maintenance and have no outdoor living requirements.
If so, be sure and note that there will be added monthly housing costs via homeowners association fees. To give yourself or your family room to grow, a detached single-family home with ample outdoor spaces may head your list of criteria.
“What location is best?” Probably the most important part of your information gathering will be how you answer this question. The value of your new home will be influenced by its location, so you will need to analyze your needs regarding how and where you work and play.
The type and locale of a home will determine your overall cost of ownership. Will it be city life, country living, or nesting in the suburbs?
Additionally, you will want to include the cost of home maintenance and commuting costs as part of your cost of living fact-finding.
Once you decide whether you are a candidate for a remodeling project or if a newer home better suits your way of life and patience, you will want to get prequalified for a loan that is tailored for the type and location of the home that works for you.
Please remember that we are here to make your information gathering easier so that the end result is a home that is a perfect fit for you and your family.